Paramount Communications Receives In-Principle Approval for Preferential Issue of Equity Shares and Warrants
Paramount Communications Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited (NSE) for a preferential issue involving equity shares and unlisted convertible warrants. The issuance is targeted at Non-Promoters and Promoters, respectively.The company secured the approvals for the dual offering, which includes 21,997,664 equity shares to be issued to Non-Promoters and 7,200,000 unlisted convertible warrants intended for Promoters. These securities are being offered on a preferential basis.
Under the terms of the issue, the details regarding the proposed allotment stand as follows:
| Security Type | Quantity Offered | Face Value per Unit | Offer Price per Unit (Including Premium) |
|---|---|---|---|
| Equity Shares | 21,997,664 | Rs. 2 | Rs. 42 |
| Unlisted Convertible Warrants | 7,200,000 | N/A | Rs. 42 |
The unlisted convertible warrants carry the right for the holder to subscribe to one equity share per Warrant at an issue price of Rs. 42. Both sets of securities—the equity shares and the warrants—are being offered at this preferential rate structure, which includes a premium of Rs. 40 over the face value.
The approval confirms the issuance framework for the two types of securities across both exchanges, setting the stage for the subsequent allotment processes by Paramount Communications Limited.
PARACABLES Stock Price Movement
On Thursday, shares of Paramount Communications Limited settled tightly at ₹70.34, showing no change from the previous close. The stock traded within a narrow range of ₹69.63 to ₹73.4, with total volume recorded at 4.13 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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